Friday, June 11, 2010

Changes in PT (Professional Tax) calculation

Changes in PT (Professional Tax) calculation

Calculation of PT has been changed in Webpay. Earlier it was only possible to deduct PT if the location was mapped with State. PT was deducted as per the slabs of state. Secondly, some states deduct PT quarterly, bi annually or annually.

Change Reason:

1. Deduction of PT other than monthly. Webpay deducted PT monthly, quaterly, bi-annually, annually but the figure considered was the current month earning and not the complete period i.e. quarter or bi-annual or annual. Now Webpay takes the sum of complete earning for the period and then deducts PT.

2. Some states have seperate PT slab for different location even if the location is in the same state.

What you need to be sure of?

1. Check the selection in company configuration: Check if PT deduction is based on State or Location.

2. Check the slabs are correctly stored as per the selection i.e. location or state.

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Webpay by BBSPL

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